TJX demonstrated resilient profitability in 2027Q1 with a 31.3% gross margin, reflecting effective management of pricing spreads despite broader retail inflationary pressures.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 | Jan'03 | Jan'02 | Jan'01 | Jan'00 | Jan'99 | Jan'98 | Jan'97 |
|---|
| Sales/Revenue | 61.58B | 60.37B | 56.36B | 54.22B | 49.94B | 48.55B | 32.14B | 41.72B | 38.97B | 35.86B | 33.18B | 30.94B | 29.08B | 27.42B | 25.88B | 23.19B | 21.94B | 20.29B | 19B | 18.34B | 17.1B | 15.96B | 14.86B | 13.33B | 11.98B | 10.71B | 9.58B | 8.8B | 7.95B | 7.39B | 6.69B |
| Revenue Growth % | 8.06% | 7.12% | 3.95% | 8.57% | 2.85% | 51.07% | -22.96% | 7.04% | 8.67% | 8.08% | 7.23% | 6.42% | 6.04% | 5.97% | 11.59% | 5.69% | 8.15% | 6.78% | 3.61% | 7.21% | 7.2% | 7.37% | 11.5% | 11.24% | 11.88% | 11.8% | 8.91% | 10.65% | 7.58% | 10.46% | 68.28% |
| Cost of Goods Sold | 42.22B | 41.68B | 39.11B | 37.95B | 36.15B | 34.71B | 24.53B | 29.85B | 27.83B | 25.5B | 23.57B | 22.03B | 20.78B | 19.61B | 18.52B | 16.85B | 16.04B | 14.97B | 14.43B | 13.84B | 12.97B | 12.21B | 11.36B | 10.1B | 9.08B | 8.12B | 7.01B | 6.42B | 5.82B | 5.55B | 5.07B |
| COGS % of Revenue | - | 69.04% | 69.4% | 70% | 72.39% | 71.5% | 76.34% | 71.54% | 71.41% | 71.11% | 71.02% | 71.21% | 71.45% | 71.49% | 71.57% | 72.67% | 73.1% | 73.78% | 75.95% | 75.49% | 75.83% | 76.55% | 76.43% | 75.79% | 75.78% | 75.85% | 73.21% | 72.98% | 73.23% | 75.13% | 75.82% |
| Gross Profit | 19.36B | 18.69B | 17.25B | 16.27B | 13.79B | 13.84B | 7.6B | 11.87B | 11.14B | 10.36B | 9.62B | 8.91B | 8.3B | 7.82B | 7.36B | 6.34B | 5.9B | 5.32B | 4.57B | 4.5B | 4.13B | 3.74B | 3.5B | 3.23B | 2.9B | 2.59B | 2.57B | 2.38B | 2.13B | 1.84B | 1.62B |
| Gross Margin % | 31.44% | 30.96% | 30.6% | 30% | 27.61% | 28.5% | 23.66% | 28.46% | 28.59% | 28.89% | 28.98% | 28.79% | 28.55% | 28.51% | 28.43% | 27.33% | 26.9% | 26.22% | 24.05% | 24.51% | 24.17% | 23.45% | 23.57% | 24.21% | 24.22% | 24.15% | 26.79% | 27.02% | 26.77% | 24.87% | 24.18% |
| Gross Profit Growth % | - | 8.38% | 6.04% | 17.98% | -0.35% | 81.98% | -35.95% | 6.55% | 7.52% | 7.74% | 7.94% | 7.33% | 6.19% | 6.26% | 16.09% | 7.38% | 10.93% | 16.4% | 1.67% | 8.73% | 10.5% | 6.79% | 8.58% | 11.2% | 12.2% | 0.76% | 8.01% | 11.66% | 15.83% | 13.6% | 77.52% |
| Operating Expenses | 11.73B | 11.52B | 10.95B | 10.47B | 8.93B | 9.08B | 7.02B | 7.45B | 6.92B | 6.38B | 5.77B | 5.21B | 4.7B | 4.47B | 4.25B | 3.89B | 3.7B | 3.33B | 3.11B | 3.24B | 2.85B | 2.7B | 2.49B | 2.21B | 1.94B | 1.69B | 1.68B | 1.52B | 1.42B | 1.31B | 1.21B |
| OpEx % of Revenue | - | 19.07% | 19.42% | 19.31% | 17.88% | 18.7% | 21.85% | 17.87% | 17.77% | 17.78% | 17.38% | 16.82% | 16.15% | 16.29% | 16.42% | 16.77% | 16.86% | 16.4% | 16.34% | 17.65% | 16.69% | 16.94% | 16.74% | 16.6% | 16.18% | 15.75% | 17.53% | 17.23% | 17.9% | 17.74% | 18.15% |
| Selling, General & Admin | 11.76B | 11.52B | 10.95B | 10.47B | 8.93B | 9.08B | 7.02B | 7.45B | 6.92B | 6.38B | 5.77B | 5.21B | 4.7B | 4.47B | 4.25B | 3.89B | 3.71B | 3.33B | 3.14B | 3.24B | 2.85B | 2.7B | 2.49B | 2.21B | 1.94B | 1.69B | 1.5B | 1.35B | 1.29B | 1.19B | 1.09B |
| SG&A % of Revenue | - | 19.07% | 19.42% | 19.31% | 17.88% | 18.7% | 21.85% | 17.87% | 17.77% | 17.78% | 17.38% | 16.82% | 16.15% | 16.29% | 16.42% | 16.77% | 16.91% | 16.41% | 16.5% | 17.65% | 16.69% | 16.94% | 16.74% | 16.6% | 16.18% | 15.75% | 15.69% | 15.4% | 16.18% | 16.05% | 16.25% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11.55M | -758K | -30.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 175.78M | 160.39M | 136.5M | 124.9M | 126.8M |
| Operating Income | 7.63B | 7.18B | 6.3B | 5.8B | 4.86B | 4.75B | 582M | 4.42B | 4.22B | 3.99B | 3.85B | 3.7B | 3.61B | 3.35B | 3.11B | 2.45B | 2.2B | 1.99B | 1.47B | 1.26B | 1.28B | 1.04B | 1.02B | 1.01B | 963.1M | 899.69M | 887.85M | 861.28M | 705.7M | 526.67M | 403.5M |
| Operating Margin % | 12.39% | 11.89% | 11.18% | 10.69% | 9.73% | 9.79% | 1.81% | 10.59% | 10.82% | 11.12% | 11.6% | 11.97% | 12.4% | 12.22% | 12% | 10.55% | 10.04% | 9.82% | 7.71% | 6.86% | 7.48% | 6.51% | 6.83% | 7.61% | 8.04% | 8.4% | 9.27% | 9.79% | 8.88% | 7.13% | 6.03% |
| Operating Income Growth % | - | 13.9% | 8.71% | 19.28% | 2.21% | 717.01% | -86.82% | 4.69% | 5.79% | 3.58% | 3.91% | 2.72% | 7.64% | 7.86% | 26.95% | 11.07% | 10.61% | 35.94% | 16.43% | -1.66% | 23.29% | 2.21% | 0.15% | 5.28% | 7.05% | 1.33% | 3.08% | 22.05% | 33.99% | 30.53% | 149.07% |
| EBITDA | 8.29B | 8.43B | 7.41B | 6.76B | 5.75B | 5.62B | 1.45B | 5.28B | 5.04B | 4.71B | 4.51B | 4.32B | 4.2B | 3.9B | 3.62B | 2.93B | 2.66B | 2.43B | 1.87B | 1.69B | 1.7B | 1.44B | 1.39B | 1.34B | 1.17B | 1.1B | 1.06B | 1.02B | 842.2M | 651.57M | 530.3M |
| EBITDA Margin % | 13.46% | 13.96% | 13.14% | 12.47% | 11.51% | 11.58% | 4.52% | 12.67% | 12.93% | 13.14% | 13.59% | 13.96% | 14.43% | 14.22% | 13.97% | 12.65% | 12.13% | 11.96% | 9.83% | 9.19% | 9.95% | 9.05% | 9.39% | 10.09% | 9.77% | 10.31% | 11.1% | 11.62% | 10.59% | 8.82% | 7.93% |
| EBITDA Growth % | 11.84% | 13.76% | 9.54% | 17.64% | 2.21% | 286.99% | -72.5% | 4.88% | 6.88% | 4.55% | 4.33% | 3% | 7.59% | 7.85% | 23.28% | 10.2% | 9.65% | 30% | 10.78% | -1.02% | 17.96% | 3.49% | 3.76% | 14.79% | 6.09% | 3.77% | 4.11% | 21.31% | 29.26% | 22.87% | 119.86% |
| D&A (Non-Cash Add-back) | 624M | 1.25B | 1.1B | 964M | 887M | 868M | 871M | 867.3M | 819.65M | 725.96M | 658.8M | 616.7M | 588.98M | 548.82M | 508.93M | 485.7M | 458.05M | 435.22M | 401.71M | 426.77M | 422.91M | 405.48M | 379.18M | 330.18M | 207.88M | 204.08M | 175.78M | 160.39M | 136.5M | 124.9M | 126.8M |
| EBIT | 7.68B | 7.3B | 6.56B | 6.05B | 4.72B | 4.52B | 283M | 4.47B | 4.24B | 3.92B | 3.78B | 3.72B | 3.61B | 3.37B | 3.12B | 2.46B | 2.21B | 2B | 1.49B | 1.26B | 1.28B | 1.04B | 1.02B | 1.01B | 963.1M | 899.69M | 887.85M | 861.28M | 705.7M | 526.67M | 403.5M |
| Net Interest Income | 126M | 121M | 181M | 170M | -6M | -115M | -181M | -10.03M | -8.86M | -31.59M | -43.53M | -46.4M | -39.79M | -31.08M | -29.18M | -35.65M | -39.14M | -758K | -14.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 163M | 121M | 257M | 249M | 78M | 4M | 13M | 49.06M | 55.98M | 32.71M | 18.14M | 13.87M | 15.59M | 15.01M | 11.66M | 11.04M | 9.88M | 48.52M | 23.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 37M | 0 | 76M | 79M | 84M | 119M | 194M | 59.09M | 64.84M | 64.3M | 61.67M | 60.27M | 55.38M | 46.09M | 40.83M | 46.68M | 49.01M | 49.28M | 38.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 42M | 121M | 181M | 170M | -224M | -357M | -493M | -10.03M | -44.98M | -130.84M | -126.48M | -46.4M | -56.62M | -31.08M | -29.18M | -35.65M | -39.14M | -40.27M | -14.29M | 1.6M | -15.57M | -28.67M | -25.76M | -27.25M | -25.37M | -25.64M | -22.9M | -7.34M | -1.7M | -4.37M | -37.4M |
| Pretax Income | 7.67B | 7.3B | 6.48B | 5.97B | 4.64B | 4.4B | 89M | 4.41B | 4.17B | 3.86B | 3.72B | 3.66B | 3.55B | 3.32B | 3.08B | 2.41B | 2.16B | 1.95B | 1.45B | 1.26B | 1.26B | 1.01B | 989.79M | 986.74M | 937.72M | 874.04M | 864.94M | 853.94M | 704M | 522.3M | 366.1M |
| Pretax Margin % | 12.46% | 12.09% | 11.5% | 11.01% | 9.28% | 9.06% | 0.28% | 10.56% | 10.71% | 10.75% | 11.22% | 11.82% | 12.21% | 12.1% | 11.89% | 10.4% | 9.86% | 9.62% | 7.64% | 6.87% | 7.39% | 6.33% | 6.66% | 7.4% | 7.83% | 8.16% | 9.03% | 9.71% | 8.86% | 7.07% | 5.47% |
| Income Tax | 1.88B | 1.8B | 1.62B | 1.49B | 1.14B | 1.11B | -1M | 1.13B | 1.11B | 1.25B | 1.42B | 1.38B | 1.33B | 1.18B | 1.17B | 915.32M | 824.56M | 737.99M | 536.05M | 477.65M | 477.04M | 318.54M | 379.58M | 377.33M | 359.34M | 333.65M | 326.88M | 327.12M | 270.8M | 215.7M | 152.3M |
| Effective Tax Rate % | 24.55% | 24.73% | 24.97% | 25.02% | 24.55% | 25.35% | -1.12% | 25.74% | 26.68% | 32.38% | 38.27% | 37.74% | 37.6% | 35.61% | 38.04% | 37.96% | 38.1% | 37.82% | 36.95% | 37.91% | 37.73% | 31.56% | 38.35% | 38.24% | 38.32% | 38.17% | 37.79% | 38.31% | 38.47% | 41.3% | 41.6% |
| Net Income | 5.79B | 5.49B | 4.86B | 4.47B | 3.5B | 3.28B | 90M | 3.27B | 3.06B | 2.61B | 2.3B | 2.28B | 2.22B | 2.14B | 1.91B | 1.5B | 1.34B | 1.21B | 880.62M | 771.75M | 738.04M | 690.42M | 609.7M | 609.41M | 578.39M | 500.4M | 538.07M | 521.67M | 424.2M | 304.8M | 363.1M |
| Net Margin % | 9.4% | 9.1% | 8.63% | 8.25% | 7% | 6.76% | 0.28% | 7.84% | 7.85% | 7.27% | 6.93% | 7.36% | 7.62% | 7.79% | 7.37% | 6.45% | 6.12% | 5.98% | 4.63% | 4.21% | 4.32% | 4.33% | 4.1% | 4.57% | 4.83% | 4.67% | 5.62% | 5.93% | 5.34% | 4.13% | 5.43% |
| Net Income Growth % | 19.88% | 12.95% | 8.72% | 27.9% | 6.55% | 3547.78% | -97.25% | 6.94% | 17.33% | 13.48% | 0.9% | 2.82% | 3.64% | 12.1% | 27.44% | 11.39% | 10.68% | 37.81% | 14.11% | 4.57% | 6.9% | 13.24% | 0.05% | 5.36% | 15.59% | -7% | 3.14% | 22.98% | 39.17% | -16.06% | 1280.61% |
| Net Income (Continuing) | 5.79B | 5.49B | 4.86B | 4.47B | 3.5B | 3.28B | 90M | 3.27B | 3.06B | 2.61B | 2.3B | 2.28B | 2.22B | 2.14B | 1.91B | 1.5B | 1.34B | 1.21B | 914.89M | 782.43M | 787.17M | 689.83M | 610.22M | 609.41M | 578.39M | 540.4M | 538.07M | 526.82M | 433.2M | 306.6M | 213.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.61M | 0 | -34.27M | -10.68M | -49.13M | 589K | -518K | 0 | 0 | -40M | 0 | 0 | -9M | 0 | 154.9M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 5.17 | 4.88 | 4.26 | 3.86 | 2.97 | 2.70 | 0.07 | 2.67 | 2.43 | 2.02 | 1.73 | 1.67 | 1.58 | 1.47 | 1.27 | 0.97 | 0.83 | 0.71 | 0.50 | 0.42 | 0.39 | 0.35 | 0.30 | 0.29 | 0.25 | 0.23 | 0.23 | 0.21 | 0.16 | 0.11 | 0.13 |
| EPS Growth % | 21.18% | 14.55% | 10.36% | 29.97% | 10% | 3524.16% | -97.21% | 9.88% | 20.3% | 16.76% | 3.59% | 5.7% | 7.48% | 15.75% | 30.93% | 16.87% | 16.9% | 42% | 19.05% | 7.69% | 11.43% | 16.67% | 3.45% | 16% | 8.7% | 0% | 9.52% | 31.25% | 45.45% | -15.38% | - |
| EPS (Basic) | - | 4.89 | 4.31 | 3.90 | 3.00 | 2.74 | 0.08 | 2.71 | 2.48 | 2.06 | 1.78 | 1.72 | 1.62 | 1.50 | 1.31 | 1.00 | 0.86 | 0.74 | 0.53 | 0.44 | 0.41 | 0.37 | 0.31 | 0.30 | 0.28 | 0.23 | 0.23 | 0.21 | 0.17 | 0.11 | 0.15 |
| Diluted Shares Outstanding | 1.12B | 1.13B | 1.14B | 1.16B | 1.18B | 1.22B | 1.21B | 1.23B | 1.26B | 1.29B | 1.33B | 1.37B | 1.41B | 1.45B | 1.5B | 1.55B | 1.63B | 1.71B | 1.77B | 1.87B | 1.92B | 1.97B | 2.04B | 2.13B | 2.22B | 2.3B | 2.31B | 2.54B | 2.68B | 2.8B | 2.69B |
| Basic Shares Outstanding | 1.12B | 1.13B | 1.13B | 1.15B | 1.17B | 1.2B | 1.2B | 1.21B | 1.24B | 1.27B | 1.29B | 1.33B | 1.37B | 1.41B | 1.45B | 1.49B | 1.56B | 1.68B | 1.68B | 1.77B | 1.82B | 1.87B | 1.96B | 2.03B | 2.14B | 2.21B | 2.3B | 2.52B | 2.54B | 2.57B | 2.39B |
| Dividend Payout Ratio | - | 33.53% | 33.88% | 33.17% | 38.28% | 38.13% | 308.89% | 32.75% | 30.15% | 29.3% | 28.33% | 23.9% | 21.03% | 18.42% | 16.99% | 18.38% | 17.07% | 16.29% | 20.07% | 19.63% | 16.66% | 15.24% | 13.68% | 11.3% | 10.38% | 9.65% | 8.31% | 8.19% | 9.83% | 14.27% | 9.64% |
Retail wage inflation pressure
As reported in recent financial filings, TJX achieved a 9.2% year-over-year revenue growth in 2027Q1, signaling that the company's off-price model continues to capture market share effectively despite a complex macroeconomic environment characterized by shifting consumer discretionary spending patterns and persistent inflationary headwinds.
The acceleration in top-line growth suggests that the company's 'treasure hunt' value proposition remains highly resonant with consumers seeking value. This trend appears to be supported by the company's ability to leverage its massive vendor network to secure high-quality inventory, which likely drives consistent foot traffic across its primary retail banners.
Based on the provided income statement data, TJX maintained a gross margin of 31.3% in 2027Q1, demonstrating a consistent ability to manage pricing spreads against full-price department stores while navigating the inherent volatility of global logistics and supply chain costs that impact the broader retail sector.
The stability of these margins suggests that the company possesses significant pricing power, likely derived from its scale and flexible procurement strategy. Investors should monitor whether this margin profile can be sustained if wage inflation continues to exert upward pressure on the company's operating expense structure.
According to the latest quarterly results, TJX demonstrated improved operating leverage as operating income reached $1.7 billion in 2027Q1, reflecting a disciplined approach to managing SG&A expenses relative to the company's expanding gross profit base during the most recent reporting period.
The ability to scale operating income faster than revenue growth indicates that management is successfully optimizing its store-level labor and occupancy costs. This operational efficiency appears to be a key driver of the company's ability to maintain profitability even as it invests in new brand expansions like Homesense.
Analysis of the income statement reveals that TJX generated $1.3 billion in net income for 2027Q1, with stock-based compensation of $42 million representing a relatively modest portion of earnings, suggesting that the company's reported EPS growth is primarily driven by core operational performance rather than accounting adjustments.
The relatively low impact of stock-based compensation on the bottom line suggests a shareholder-aligned compensation structure that avoids excessive dilution. This quality of earnings warrants further investigation into how the company manages its tax rate and non-operating items to ensure that the reported net income remains a reliable indicator of underlying business health.
Quick answers to the most common questions about buying TJX stock.
For fiscal year 2026, The TJX Companies, Inc. (TJX) reported total revenue of $60.37B. This represents a 802.5% increase compared to $6.69B in 1997.
The TJX Companies, Inc. (TJX) is profitable, generating $5.49B in net income for the fiscal year ending 2026 with a net profit margin of 9.1%.
The TJX Companies, Inc. (TJX) reported an operating income of $7.18B, resulting in an operating profit margin of 11.9%. This margin reflects the operational efficiency of the business before interest and taxes.
The TJX Companies, Inc. (TJX) generated $18.69B in gross profit for the year, representing a gross profit margin of 31.0%. This demonstrates the company's core pricing power and production efficiency.